No move on interest rates makes it a good time to consider your next move
The Reserve Bank of Australia (RBA) hasn’t moved on interest rates in eight consecutive months, making now the time to consider your next move before any rate rises later this year.
The fact that the RBA has again decided not to move on the interest rates is an indication of where the housing market is currently at and we also know the investor buyer is back in a big way, with approximately 40% of all new housing commitments in the industry represented by them.
This is the highest level of investors in the market since the 2003 housing boom.
Fixed rates continue to drop with a number of lenders and banks at the moment, however a few Economists have indicated that we should see a rate rise by the fourth quarter of 2014.
Once we see fixed rates starting to increase again, it is likely to mean that the cycle is turning again, with a rate rise imminent, making now a good time to consider your next move.
Interest rates are just one component of your financial arrangement though, so to see what your options are to buy your first home, acquire an investment property or refinance, speak to the professionals at Choice Home Loans today. Contact them at email@example.com or call 1300 2 CHOICE